99Transfer by special trust to corporation

#### 99 Transfer by special trust to corporation 99 Transfer by special trust to corporation > > (1) A transfer of land to a corporation by a person in the person’s capacity as trustee of a special trust is eligible for exemption under this Division if— > > > > > (a) the land was subject to the special trust on, and at all times between, 31 December 1986 and 11 September 1990, and > > > > > (b) Division 122 of Part 3-3 of the Commonwealth [Income Tax Assessment Act 1997](http://www.legislation.gov.au/) applies to the disposal of land effected by the transfer, and > > > > > (c) pursuant to that section, Part IIIA (Capital Gains and Capital Losses) of that Act (except that section) does not apply to that disposal. > > > (2) Chapter 3 (Certain transactions treated as transfers) and Chapter 4 (Acquisition of interests in landholders) do not apply to the issue or allotment of shares in a corporation pursuant to a transfer for which an exemption from the payment of duty is granted under this Division. > > **s 99:** Am 2003 No 80, Sch 1 \[11\]; 2004 No 96, Sch 1 \[1\]; 2008 No 67, Sch 1 \[17\]; 2009 No 51, Sch 1.2 \[1\].